Financial Data and Key Metrics Changes - The company reported an 18.8% increase in revenues, driven by a 22.4% rise in average prices in Chilean pesos, while volumes contracted by 2.9% [5][6] - EBITDA decreased by 47.3% to 32,470 million Chilean pesos, with EBITDA margin dropping from 13.1% to 5.8% [6][7] - The company incurred a net loss of 10,455 million Chilean pesos compared to a profit of 18,968 million Chilean pesos in the previous year [7] Business Line Data and Key Metrics Changes - In the Chile operating segment, revenues grew by 3.7% due to a 7.3% increase in average prices, while volumes declined by 3.4% [8] - The International Business Operating segment saw net sales rise by 70.9%, with volumes contracting by 1.7% [10] - The Wine Operating segment's revenues increased by 16.7%, attributed to a 17.4% growth in average prices, while volumes decreased by 0.5% [11][12] Market Data and Key Metrics Changes - In Argentina, Paraguay, and Bolivia, volumes expanded compared to pre-pandemic levels, while Uruguay remained flat and Bolivia saw a decline [10] - The company noted a 17.6% devaluation of the Chilean peso against the US dollar, impacting costs [9] Company Strategy and Development Direction - The company aims to focus on revenue management and efficiency improvements to recover profitability while maintaining business scale [5][6] - Management emphasized the importance of brand equity and marketing investments to protect market share and pricing power [35][36] Management Comments on Operating Environment and Future Outlook - The management acknowledged a challenging macroeconomic environment with high inflation and cost pressures, impacting margins [4][6] - Future expectations include stable volume growth with low single-digit increases anticipated for 2023 [25][56] Other Important Information - The company plans to continue with revenue management initiatives and cost efficiencies to recover profitability [5][6] - Management expressed confidence in achieving better profitability in 2023 despite the current challenges [39] Q&A Session Summary Question: Can you comment on the dynamics between consumption at home and away from home during the quarter? - Management noted that on-premise consumption has recovered significantly from pandemic lows, expecting further recovery [16] Question: How did the demand behave between premium and non-premium brands during the quarter? - Premium brands accounted for 43% of volumes in Q2 2022, down from higher levels in late 2021, indicating a shift in consumer preferences [18][21] Question: What is the outlook for the consumption environment in Chile? - Management expects a stable consumption environment with low growth in 2023, focusing on revenue management and efficiency [25][26] Question: What is the incremental pricing needed to offset ongoing cost inflation? - Management did not disclose specific figures but emphasized the need for further price increases to recover profitability [32] Question: How much further room is there for efficiency to protect margins? - Management indicated there are still opportunities for efficiency improvements across various operational areas [37][38] Question: How does the competitive environment look after recent price increases? - Management acknowledged potential market share loss in the short term due to price increases but remains committed to adjusting prices as necessary [42][43] Question: Will the company consider separating Argentina's performance from the international division? - Management acknowledged the unique challenges in Argentina but did not commit to separating its financial reporting [45][46] Question: Is there a possibility of exploring a hedging policy for raw materials? - Management expressed skepticism about the effectiveness of long-term hedging strategies, preferring to manage volatility directly [48][49]

Financial Performance - Adjusted Operating Result for 2021 was CLP 320,881 million, a significant increase from CLP 186,591 million in 2020, reflecting a growth of 71.9%[137] - The company reported a net income of CLP 219,051 million for the year ended December 31, 2021, compared to CLP 108,195 million in 2020, marking an increase of 102.0%[137] - Net income attributable to equity holders of the parent company grew by 107.1%[139] - Adjusted Operating Result expanded by 72.0%, with a 49.7% increase in the Chile Operating segment and a significant recovery in the International Business Operating segment[139] - Adjusted Operating Result increased by 72.0% from CLP 186,591 million in 2020 to CLP 320,881 million in 2021, with the margin rising from 10.0% to 12.9%[143] Sales and Revenue - Net sales increased by 33.8% from CLP 1,857,594 million in 2020 to CLP 2,484,712 million in 2021, driven by a 13.0% increase in sales volume and an 18.3% rise in average prices[139] - The Chile Operating segment generated net sales of CLP 1,578,152 million in 2021, accounting for 63.5% of total net sales, compared to CLP 1,242,763 million (66.9%) in 2020[136] - The International Business Operating segment's net sales increased to CLP 677,945 million (27.3%) in 2021 from CLP 402,829 million (21.7%) in 2020, marking a growth of 68.2%[136] - The Wine Operating segment reported net sales of CLP 261,620 million (10.5%) in 2021, up from CLP 235,210 million (12.7%) in 2020, indicating a growth of 11.5%[136] - The Chile Operating segment's net sales increased by 27.0% from CLP 1,242,763 million in 2020 to CLP 1,578,152 million in 2021[139] - The International Business segment's net sales surged by 68.3% from CLP 402,829 million in 2020 to CLP 677,945 million in 2021[139] Operational Efficiency - The ORBDA for 2021 was CLP 444,998 million, up from CLP 296,405 million in 2020, reflecting a growth of 50.1%[137] - The Chile Operating segment's ORBDA margin was 81.5% in 2021, down from 93.6% in 2020, indicating a decrease in operational efficiency[136] - The International Business Operating segment achieved an ORBDA of CLP 56,564 million (17.6%) in 2021, a recovery from a loss of CLP 1,351 million in 2020[136] Costs and Expenses - Cost of sales rose by 31.3% from CLP 984,036 million in 2020 to CLP 1,291,560 million in 2021, primarily due to a 13.0% increase in sales volume and a 16.1% rise in cost of sales per hectoliter[140] - Gross profit increased by 36.6% from CLP 873,558 million in 2020 to CLP 1,193,152 million in 2021[140] - MSD&A expenses increased by 25.2% from CLP 704,790 million in 2020 to CLP 882,177 million in 2021, but as a percentage of net sales, they decreased from 37.9% to 35.5%[140] - Other income by function decreased by 38.8% from CLP 19,296 million in 2020 to CLP 11,808 million in 2021[142] - Other expenses increased by 29.2% from CLP 1,473 million in 2020 to CLP 1,903 million in 2021, mainly due to asset write-offs[142] Cash Flow and Investments - Cash generated from operating activities amounted to CLP 293,356 million in 2021, up from CLP 280,670 million in 2020[146] - Cash flows from financing activities showed outflows of CLP 233,644 million in 2021, compared to inflows of CLP 64,750 million in 2020[148] - Cash used in investment activities totaled CLP 178,993 million in 2021, an increase from CLP 140,545 million in 2020[148] - The company plans to invest CLP 270,315 million in capital expenditures for 2022, with CLP 205,210 million allocated in Chile, focusing on production assets, distribution assets, returnable packaging, and marketing assets[152] Economic Context - The Chilean economy experienced a GDP growth of 11.7% in 2021, with inflation at 7.2% and an unemployment rate of 8.9%, indicating a recovery from the previous year's contraction[154] - The Argentine economy grew by 10.3% in 2021, but faced a depreciation of the Argentine peso by 34.8% on average, which may negatively impact the company's financial results due to raw material costs being indexed to the USD[156] Strategic Initiatives - The company has been investing in new technologies and digital transformation, including the launch of the B2B platform "Mi Carro" in Chile and the regional expansion of the B2C platform "La Barra"[153] - The company is analyzing potential acquisitions in the beverage sector in Chile and other South American countries as part of its growth strategy[152] - The company has implemented a regional plan to ensure operational continuity and financial health during the COVID-19 pandemic, maintaining normal operations despite ongoing challenges[158] - The company’s capital investment program is subject to revision based on market conditions, economic factors, and potential regulatory changes affecting operations[152] Market Challenges - The prices of key raw materials, such as malt, sugar, and aluminum, have been rising, leading to cost pressures, with significant fluctuations influenced by global supply and demand[155]

CompañÃa CervecerÃas Unidas S.A. (NYSE:CCU) Q2 2021 Earnings Conference Call August 6, 2021 12:00 PM ET Company Participants Claudio Las Heras – Head of Investor Relations Patricio Jottar – Chief Executive Officer Felipe Dubernet – Chief Financial Officer Conference Call Participants Fernando Olvera – Bank of America Felipe Ucros – Scotiabank Mohammed Ahmad – FGP Felipe Ucros – Scotiabank Claudio Las Heras [Call Starts Abruptly] these statements should be taken in conjunction with the additional information ...

CAU Corporate Presentation Investor Relations Second Quarter 2021 ccu CCU OVERVIE' Statements made in this presentation relate to CCU's future performance or financial results are "forward- looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, which are not statements of fact and involve uncertainties that could cause actual performance or results to materially differ. Forward looking statements include, without limitation, any statement that may predict, fore ...

CompañÃa CervecerÃas Unidas S.A. (NYSE:CCU) Q1 2021 Earnings Conference Call May 6, 2021 2:00 PM ET  Company Participants Claudio Las Heras - Head of Investor Relations Patricio Jottar - Chief Executive Officer Felipe Dubernet - Chief Financial Officer Conference Call Participants Fernando Olvera - Bank of America Henrique Brustolin - BTG Operator Good day, everyone and welcome to the CCU's First Quarter 2021 Earnings Conference Call. Today's call is being recorded. At this time, I would like to turn the c ...

Financial Performance - Net sales for 2020 reached CLP 1,857,594 million, showing a growth from CLP 1,822,541 million in 2019, representing a 1.8% increase[16] - Gross profit for 2020 was CLP 873,558 million, down from CLP 914,223 million in 2019, indicating a decrease of 4.5%[16] - Adjusted Operating Result for 2020 was CLP 186,591 million, a significant decline from CLP 230,808 million in 2019, reflecting a decrease of 19.2%[16] - Net income for 2020 was CLP 108,195 million, down from CLP 145,646 million in 2019, marking a decrease of 25.7%[16] - The company experienced a decline in basic and diluted income per share to CLP 260.22 in 2020 from CLP 352.21 in 2019, a decrease of 26.1%[16] - The ORBDA (Operating Result Before Depreciation and Amortization) for 2020 was 296,405 million CLP, down from 335,829 million CLP in 2019[167] - Net income prior to non-controlling interests decreased by 25.7% to CLP 108,195 million in 2020[176] - Net income attributable to equity holders of the parent company declined by 26.1% to CLP 96,152 million in 2020[177] Assets and Liabilities - Total assets as of December 31, 2020, were CLP 2,525,337 million, an increase from CLP 2,353,691 million in 2019, representing a growth of 7.3%[17] - Total financial debt increased to CLP 514,141 million in 2020 from CLP 330,155 million in 2019, indicating a rise of 55.7%[17] - As of December 31, 2020, total indebtedness amounted to CLP 490,457 million, with a consolidated interest coverage ratio of 10.32[182] - As of December 31, 2020, total interest-bearing debts amounted to CLP 588,437 million, with fixed-rate debts constituting CLP 579,889 million and variable-rate debts CLP 8,548 million[183] Market Segments - The Chile Operating segment generated 67% of sales revenues in 2020, while the International Business Operating segment contributed 22%[27] - The weighted volume market share for the Chile Operating segment was approximately 43.4%, 43.8%, and 45.2% in 2018, 2019, and 2020, respectively[77] - The weighted volume market share for the International Business Operating segment was approximately 15.8%, 16.7%, and 17.7% in 2018, 2019, and 2020, respectively[79] - The International Business Operating segment generated net sales of CLP 483,926 million, CLP 464,487 million, and CLP 402,829 million in 2018, 2019, and 2020, representing 27.1%, 25.5%, and 21.7% of CCU's consolidated net sales respectively[103] Sales and Volume - Sales volume for 2020 was 3,069.3 million liters, up from 3,003.2 million liters in 2019, reflecting an increase of 2.2%[17] - In 2020, the Chilean beer industry had an estimated size of 955 million liters, while the carbonated soft drink industry was estimated at 2,123 million liters[83] - In 2020, the Bolivian beer industry had an estimated size of 298 million liters, and the carbonated soft drink industry had an estimated size of 990 million liters[89] - The Argentine beer industry had an estimated size of 2,088 million liters in 2020, approximately 2.2 times the size of Chile's beer industry[88] Environmental Initiatives - The company reduced water consumption by approximately 49% per liter produced as of 2020, with a goal of a 60% decrease by 2030[46] - New environmental regulations, including the REP Law, aim for a 50% reduction in greenhouse gas emissions per liter produced by 2030[54] - The company is committed to achieving 100% valorization of industrial solid waste and 75% use of renewable energy by 2030[54] - In 2020, the company achieved a 35.7% reduction in greenhouse gas emissions per liter produced, surpassing its goal of 20%[158] - The company also achieved a 48.6% decrease in water consumption per liter produced, exceeding its target of 33%[158] Economic Context - Argentina's GDP contracted by 9.9% in 2020, primarily due to COVID-19 restrictions, while inflation reached 36.1%[31] - The Chilean economy contracted by 5.8% in 2020, with inflation at 3.0% and unemployment at 10.8%, impacting consumer behavior and product consumption[188] - The average exchange rate for USD in 2020 was CLP 792.22, compared to CLP 702.63 in 2019, indicating a depreciation of the Chilean peso[22] - The Chilean peso (CLP) experienced a depreciation of 12.8% in 2020, impacting the USD value of the company's earnings and dividends[57] Corporate Governance - As of March 31, 2021, Inversiones y Rentas S.A. owned 61.56% of the company's common stock, giving it significant control over corporate decisions[56] - The board of directors includes Andrónico Luksic as Chairman since April 2013 and Carlos Molina as Vice Chairman since May 2018[195] - The total compensation paid to directors for services rendered in 2020 amounted to CLP 4,210 million[204] - The board of directors consists of nine members elected for a term of three years, with the latest election held on April 14, 2021[208] Strategic Initiatives - The company has implemented efficiency and revenue management plans in Argentina to mitigate macroeconomic challenges[33] - CCU's 2019-21 Strategic Plan focuses on growth, profitability, and sustainability, with six strategic goals including brand strengthening and innovation[75] - The company is analyzing potential acquisitions in the beverage sector to support growth strategies in Chile and other South American markets[184] - Research and development efforts are ongoing, with a focus on new technologies and digital transformation, including investments in e-commerce platforms[187] Risks and Challenges - The company faces risks from natural disasters and climate change, which could significantly impact its operations and financial condition[48] - The company continues to face risks from health crises that could disrupt operations and financial performance[49] - Consolidation in the beer industry may negatively impact the company's market share due to increased competition from larger players like ABI[38] - Potential new regulations on advertising and labeling of alcoholic beverages could adversely affect sales volumes and results[52]

Compañía Cervecerías Unidas S.A. (NYSE:CCU) Q4 2020 Earnings Conference Call February 23, 2021 10:30 AM ET Company Participants Claudio Las Heras - Head of IR Felipe Dubernet - CFO Nicolás Novoa - Financial Planning and IR Manager Conference Call Participants Lucas Ferreira - JPMorgan Marcella Rechia - Credit Suisse Carlos Laboy - HSBC Thiago Duarte - BTG Felipe Ucros - Scotiabank Barbara Angerstein - Itaú Santiago Petri - Templeton Operator Good day, and welcome to the CCU's Fourth Quarter 2020 Earnings Co ...

iHeartMedia, Inc. (NYSE:CCU) Q3 2020 Earnings Conference Call November 9, 2020 4:30 PM ET Company Participants Michael McGuinness - EVP, Finance & Deputy CFO Richard Bressler - President, COO, CFO & Director Robert Pittman - Chairman & CEO Conference Call Participants Jessica Reif Ehrlich - Bank of America Merrill Lynch Steven Cahall - Wells Fargo Securities John Janedis - Wolfe Research James Goss - Barrington Research Associates Operator Ladies and gentlemen, thank you for standing by, and welcome to the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of even ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of even ...